Tuesday, May 5, 2009

Gold outlook for the second half of 2009

Royal Bank of Canada sees gold staging a near-term seasonal pullback of 10-15% from its April 1 value, suggesting a potential downside risk to US$750 - $800/oz this summer. According to their continued bullish longer-term outlook, gold may reclaim $900/oz later in the year, and perhaps retest $1,000/oz late this year or into 2010.

For an even more glittering view, see 2009 Gold Outlook on the Gold World Web site.

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